Joe Staton, GfK‘s client strategy director, said after the recent “near-historic low” of -36 for the Consumer Confidence Barometer last month, there are some early signs of improvement across most measures for its fourth Covid-19 flash – even though “all core scores remain negative”.
The measure for the general economic situation of the country was the only measure to decrease during the period, down one point to -60.
However, expectations for the general economic situation over the coming 12 months were up by six points to -42 points. Additionally, the Major Purchase Index increased seven points to -25 in June.
Staton said: “Despite the backdrop of dire warnings about the state of the economy, large-scale job losses, the end of furlough with the prospect of further unemployment, and a possible second-wave of Covid-19, consumers appear to be slightly more confident as lockdown loosens across parts of the UK.
“The seven-point jump in the Major Purchase Index could bode well for ‘reopening day’ this Saturday as more shoppers hit the high streets after a trip to the pub and visit to the hairdresser. However, economic headwinds could easily blow any recovery off-course with confidence remaining fragile and volatile amid few signs of stability.”